Steve Madden to acquire Kurt Geiger in £289m deal
Footwear giant Steve Madden is set to acquire luxury footwear brand Kurt Geiger in a £289m deal, marking the end of its seven-year ownership under private equity firm Cinven.
Steve Madden is set to acquire Kurt Geiger in a £289m deal, marking the end of its seven-year ownership under private equity firm Cinven.
Kurt Geiger, which has grown into a key player in the luxury footwear, handbags, and accessories market, operates more than 70 stores across the UK and US, and has a notable presence in Europe, the Middle East, and Asia.
Cinven, who took control of the brand in 2015, has been instrumental in expanding the brand’s reach, particularly in North America and through digital channels.
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Under its ownership, Kurt Geiger saw its turnover rise from £47.8m in 2023 to £59.8m in 2024, marking a 25% increase.
Steve Madden’s acquisition is expected to accelerate the retailer’s international growth, particularly in North America, where the brand has already established a strong presence.
Kurt Geiger CEO Neil Clifford said: “We are incredibly grateful to Cinven for their support and partnership. Their experience and expertise have been instrumental in creating value for Kurt Geiger, helping us to transform and strengthen the business.
“We have successfully implemented new strategies and broadened our product offering, all whilst staying true to our brand identity. As we step into this next exciting phase, we do so with a strong foundation.”
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